Refer to Figure 4-3 $\begin{array}{lc}\text { Materials and In Frogress } & 40,000 \\\quad \text { Accounts Payable } && 40,000 \\\end{array}$

question 24

Essay

Refer to Figure 4-3. Which of the following would NOT be an entry under the backflush system, assuming the second trigger point is the completion of goods?
A)
$\begin{array}{lc}\text { Materials and In Frogress } & 40,000 \\\quad \text { Accounts Payable } && 40,000 \\\end{array}$

B)
$\begin{array}{lc}\text { Work in Process } & 40,000 \\\quad \text { Materials } && 40,000 \\\end{array}$

C)
$\begin{array}{lc}\text { Conversion Cost Control } & 46,000 \\\quad \text { Payroll } &&6,000 \\\quad \text { Accounts Payable } &&40,000 \\\end{array}$

D)
$\begin{array}{lc}\text { Cost of Goods Sold } & 82,000 \\\text { Finished Goods } && 82,000 \end{array}$

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Definitions:

Directors

Directors are individuals elected by the shareholders of a corporation to oversee and direct the corporation's affairs and make significant business decisions.

Shareholder's Right

The entitlements and privileges, such as voting and profit sharing, accorded to individuals or entities owning shares in a corporation.

Dissent

The act of expressing or holding opinions that are at variance with those previously, commonly, or officially expressed.

Unanimous Shareholder Agreement

An agreement among all shareholders that may restrict the powers of the directors to manage or supervise the management of the company.